The Turkish Automobile Factories Corporation (Tofaş), which produces Fiat licensed vehicles in Turkey, plans to invest 600 million euros in the country in 2015. According to a statement issued by Tofaş to the Public Disclosure Platform (KAP) yesterday, the company expects to export 150,000 to 160,000 vehicles in 2015, which is in addition to the company's plans to produce new models. Tofaş had invested 330 million euros in 2014 in which Tofaş had announced their total sales revenues as TL 7.44 billion ($3.098 billion) with a net profit of TL 574 million - a 32 percent increase compared to 2013. Tofaş produced 222,807 vehicles in 2014, which accounts for 19 percent of all production in Turkey, and 142,281 vehicles were exported despite crises and uncertainty in export markets, providing $353 million worth of foreign trade surplus. Tofaş, which also represents the Alfa Romeo, Lancia, Jeep, Ferrari and Maserati brands in Turkey along with Fiat, announced 92,359 domestic sales with a 12 percent market share in 2014. The Fiat Doblo, produced in Tofaş facilities in Bursa, was the top selling light commercial vehicle segment. Jeep increased its sales by 102 percent in 2014, while Maserati was the fastest growing brand.
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